Loan Agreement and Promissory Note between Cell MedX Corp. and Richard N. Jeffs dated July 9, 2015

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Summary

Cell MedX Corp. has borrowed $16,000 from Richard N. Jeffs under an agreement dated July 9, 2015. The company agrees to repay the loan on demand, with interest at 6% per year, compounded monthly. If Cell MedX Corp. fails to repay, it is also responsible for any collection costs. The loan is documented with a promissory note, and repayment can be made in full or in part at any time. The agreement is signed by both parties, with Yanika Silina acting as CFO for Cell MedX Corp.

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EX-10.19 8 ex1019.htm LOAN AGREEMENT AND NOTE PAYABLE DATED JULY 9, 2015 AMONG CELL MEDX CORP., AND RICHARD N. JEFFS. ex1019.htm

LOAN AGREEMENT

July 9, 2015

Richard N. Jeffs (the “Lender”) of Parcela 29, Perales Viejo Vallenar, III Region Chile, advanced USD$16,000 (the “Principal Sum”) to Cell MedX Corp. (the “Borrower”) of 74 N. Pecos Road, Suite D, Henderson, NV, 89074.  The Lender advanced the funds on July 9, 2015.

The Borrower agrees to repay the Principal Sum on demand, together with interest calculated and compounded monthly at the rate of 6% per year (the “Interest”) from July 9, 2015.  The Borrower is liable for repayment for the Principal Sum and accrued Interest and any costs that the Lender incurs in trying to collect the Principal Sum and the Interest.

 
The Borrower will evidence the debt and its repayment of the Principal Sum and the Interest with a promissory note in the attached form.
 
LENDER                                                                          BORROWER
Richard N. Jeffs                                                                    Cell MedX Corp.

Per:                                                                            Per:

/s/ Richard N. Jeffs                                                                 /s/ Yanika Silina
Richard N. Jeffs                                                                      Yanika Silina, CFO



 
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PROMISSORY NOTE

Principal Amount:  USD$16,000                                                                                                                                July 9, 2015


For value received Cell MedX Corp., (the “Borrower”) promises to pay on demand to the order of Richard N. Jeffs (the “Lender”) the sum of $16,000 lawful money of United States (the “Principal Sum”) together with interest on the Principal Sum from July 9, 2015 (“Effective Date”) both before and after maturity, default and judgment at the Interest Rate as defined below.

For the purposes of this promissory note, Interest Rate means 6 per cent per year.  Interest at the Interest Rate must be calculated and compounded monthly not in advance from and including the Effective Date (for an effective rate of 6.2% per annum calculated monthly), and is payable together with the Principal Sum when the Principal Sum is repaid.

The Borrower may repay the Principal Sum and the Interest in whole or in part at any time.

The Borrower waives presentment, protest, notice of protest and notice of dishonour of this promissory note.


BORROWER
Cell MedX Corp.

Per:

/s/ Yanika Silina
Yanika Silina, CFO


 
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